COLORADO SPRINGS, COLO. — Warby Parker has opened a 2,298-square-foot store at The Promenade Shops at Briargate, a 236,539-square-foot retail center located in Colorado Springs. The store is situated next to Ted’s Montana Grill. The eyewear brand currently operates more than 200 stores throughout the country.
BEAUMONT AND NEDERLAND, TEXAS — Marcus & Millichap has brokered the sale of a portfolio of seven self-storage facilities totaling 2,627 units in southeast Texas. The properties were constructed in the 1970s and 1980s and total 389,501 net rentable square feet. Two of the properties are located in Beaumont, and two are located in Nederland, with the other facilities located in Groves, Bridge City and Orange. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a California-based liability company that purchased the portfolio in 2018, in the transaction. The duo also secured the buyer, a North Carolina-based limited liability company.
ARLINGTON, TEXAS — A joint venture between Southern California-based investment firm Magma Equities and a fund backed by Macquarie Asset Management has acquired Bardin Greene, a 285-unit apartment community in Arlington. Built in 2001, the property comprises 18 two-story buildings that house one-, two- and three-bedroom units on a 16-acre site. The amenity package consists of a pool, fitness center, business center, volleyball court, courtyard with a children’s play area, resident clubhouse and onsite laundry facilities. Brian Eisendrath of Institutional Property Advisors (IPA), a division of Marcus & Millichap, arranged acquisition financing for the deal through Los Angeles-based PCCP LLC. Moody National Cos. sold the asset off-market for an undisclosed price. The new ownership plans to implement a value-add program.
ROANOKE, TEXAS — Cummins Clean Fuel Technologies has signed an industrial lease expansion at AllianceTexas, Hillwood’s 27,000-acre master-planned community on the north side of Fort Worth. The provider of natural gas delivery systems is expanding its manufacturing operations, bringing its footprint at 1051 Republic Drive in Roanoke to roughly 160,000 square feet. Michael Haggar and John Worthen of JLL represented Cummins in the lease negotiations. Samuel Rhea and Reid Goetz represented Hillwood on an internal basis.
INDIAN LAND, S.C. — Berkadia has negotiated the $78 million sale of Indigo at Cross Creek, a 303-unit apartment community located at 2001 Cramer Circle in Indian Land, a South Carolina suburb of Charlotte. Tampa-based Argyle Real Estate Partners purchased the property from the seller, a partnership between Taft Development Group and UHF Development. Caleb Troop, Thomas Colaiezzi, Mark Boyce and Blake Coffey of Berkadia represented the seller in the transaction. As part of the deal, Argyle assumed an existing Fannie Mae mortgage. Built in 2017, Indigo at Cross Creek features one-, two- and three-bedroom floor plans averaging 1,134 square feet. Community amenities include a saltwater pool, one-mile walking trail, cabanas with outdoor fire pits, sundeck, grilling stations, business lounge with flat-screen TVs, fitness center, yoga studio, clubhouse, bocce ball court and a dog park.
CARTERSVILLE, GA. — Advenir Oakley Capital has purchased 28 acres in Cartersville for the development of LEO at Cartersville, a 246-unit build-to-rent residential property. The $65 million project will be situated at the interchange of I-75 and Ga. Highway 20, about 38 miles northwest of Atlanta in Bartow County. Alex Phillips of Cushman & Wakefield represented both the buyer and undisclosed seller in the land transaction. Designed by Birmingham, Ala.-based Nequette Architecture & Design, LEO at Cartersville will feature a mix of one-, two- and three-bedroom cottages ranging in size from 728 to 1,510 square feet. Community amenities will include courtyards with pavilions and grill stations, a central clubhouse with a resort-style pool, fitness center and a dog park. Birmingham-based Capstone Building Corp. is the general contractor for the project, which is set to break ground next month. Advenir Oakley expects LEO at Cartersville to be fully completed by August 2025, with first deliveries scheduled for December 2024.
HOUSTON — Northmarq has arranged an acquisition loan of an undisclosed amount for a 90,029-square-foot industrial building located at 8950 Railwood Drive in northeast Houston. Built in 1989, the single-tenant building features 21-foot clear heights, 11 exterior docks and 18,500 square feet of office space. Blane Eikenhorst and Tony Gray of Northmarq arranged the nonrecourse, fixed-rate loan, which was structured with a 10-year term and a 75 percent loan-to-value ratio, through Ameritas Investment Partners. The borrower/owner-occupant was not disclosed.
KNOXVILLE, TENN. — CBRE has brokered the sale of TENN, a 603-bed student housing community located adjacent to the University of Tennessee campus in Knoxville. Jaclyn Fitts, William Vonderfecht, Casey Schaefer and Brett Carr of CBRE represented the seller, Campus Apartments, in the disposition of the property to Schenk Realty. The sales price was not disclosed. The community was developed in 2018 and is located within Knoxville’s Fort Sanders neighborhood at 1830 Cumberland Ave. TENN offers 140 fully furnished units in three-, four- and five-bedroom configurations. Shared amenities include a two-story clubhouse, swimming pool, courtyard grill stations and a fire pit, 24-hour fitness center, computer lab, TV lounge, Zen room, gaming lounge, group study rooms, a coffee station, free tanning, an indoor golf putting green, Amazon hub and ground-floor retail space.
HOUSTON — Intac Supply, a provider of HVAC equipment, has signed an 18,000-square-foot industrial lease at 6600 Long Point Road in northwest Houston. Toronto-based Agellan Commercial REIT owns the 139,116-square-foot building, which was originally built in 1979. Matt Rogers of Oxford Properties represented Intac Supply in the lease negotiations. Carter Holmes of Holt Lunsford represented the landlord.
DORAL, FLA. — Marcus & Millichap Capital Corp. (MMCC) has secured $19.2 million in financing for the development of EVEN Hotel Doral, a 125-room hotel that will be located at 10770 N.W. 25th St. in Doral, a suburb of Miami. Robert Bhat of MMCC’s Miami office secured the financing on behalf of the borrower, a foreign entity that is partnering with locally based ASI Global to raise capital through the EB5 program and to oversee the development. The financing included a $12.1 million conventional bank loan and a $7.1 million PACE loan, both of which were underwritten at a 65 percent loan-to-cost ratio. The construction timeline and property details for EVEN Hotel Doral were not disclosed.